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Futures Limited, Long End Soft

JGBS

JGB futures pared their modest overnight losses during the Tokyo morning, with U.S. Tsys trading on the front foot and domestic equities struggling for most of the session, although the contract held to a narrow range, and last deals +2 ahead of the bell.

  • The long end of the cash curve has seen some underperformance today, after yesterday's outperformance, even with receiving seen in the super-long end of the swap space.
  • Locally, the COVID situation in Tokyo continues to dominate, with a local government briefing on the matter set to be held later today. The capital has already moved to enact its highest virus alert level.
  • National CPI and flash PMI readings headline the local docket on Friday, with 3-month bill supply and the latest liquidity enhancement auction for off-the-run JGBs also due.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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